Hi All,
Great forum here, and my first post. And unfortunately its not an exciting post, it's a dull old pension question and I am only 39!
Anyhow, my situation is I have a family of 4 we have got PR 3 months ago, we've been in OZ 2 years. I was just setting up my kids savings accounts at Westpac this afternoon and they showed me a leaflet about moving my pension over from the UK.Apparently if I do it within 6 months of getting PR, then I do not pay tax on the UK fund growth.
So my dilemma is that, we are buying a property in Australia so we are committed to living here, I know we will become citizens and be here for at least another 5 years when the kids finish primary school, however long term I cannot commit that I will be a retiree in OZ come 60 years old. I just cannot do that "forever" commitment.
So if I decide to move my UK pension over and basically have a full Aussie pension (My current super + UK pension) when I am 60 years old but I decide to live in the UK, does anyone know what tax implications there would be for me. And I assume despite working in the UK for 20 years whether I would get a state pension?
It seems to make sense to move my pension over here now and have it all together but open to any advice from folks on here.
many thanks
